B-schools devising course to break placement shell

Companies have slashed hiring numbers, in some cases by as much as 30-40%, said people on campusesSreeradha Basu | ET Bureau | January 21, 2017, 10:00 IST

Final placements for the 2015-17 batch at the country's leading business schools seem to be feeling the impact of dampened economic sentiment.

Placement cells at Management Development Institute (MDI), Gurgaon, SP Jain Institute of Management and Research (SPJIMR), Indian Institute of Foreign Trade (IIFT), Indian Institute of Management (IIM), Indore, and Welingkar Institute of Management Development and Research among others, said that a combination of factors including demonetisation, lacklustre business sentiment and a cautious attitude on the part of recruiters have taken a toll, mak ing this placement season the most challenging in recent years.

Companies have slashed hiring numbers, in some cases by as much as 30-40%, said people on campuses. Some regulars didn't turn up, citing a hiring freeze, while others backed out at the last minute, even after taking part in pre-placement talks. “It has been a challenging year,“ said Abbasali Gabula, deputy director, external relations, at SPJIMR. “Companies are always uncomfortable with uncertainty; it makes them hesitant about taking hiring decisions.“

The institute recently wrapped up final placements but Gabula said it helped that the school had planned for a tight placement season by getting more potential recruiters to campus. “We brought in 104 companies, compared to 82 last year,“ he said. “About 50% of our total recruiters were new companies,“ Gabula added.